Which of the Four Time Series Components Is More Likely

question 78

Multiple Choice

Which of the four time series components is more likely to exhibit the relative steady growth of the population of Las Vegas from 1964 to 2004?

• A)Long-term trend
• B)Cyclical variation
• C)Seasonal variation
• D)Random variation

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Definitions:

Confidence Interval

A set of numbers resulting from the statistical examination of a sample, expected to encompass the value of an undetermined parameter of the overall population.

Critical Values

Specific points on the scale of a test statistic that delineate the boundary between rejecting and not rejecting the null hypothesis.

Independent Large Samples

This refers to samples that are drawn from populations in such a way that the selection of a unit in one sample does not influence the selection of units in other samples, and each sample contains a sufficiently large number of observations.

Population Standard Deviations

The square root of the population variance, indicating how data is dispersed around the mean.